Publication

Interest in CFPB Commission

Richard Cordray continues to leave Washington guessing about whether he’ll resign from the Consumer Financial Protection Bureau to run for governor of Ohio, but there’s little mystery over whether he’ll be replaced by a single director or multiple commissioners.

Republicans have seemingly abandoned years of effort to restructure the CFPB into a multi-member commission, and Democrats seem to have lost interest in the idea as a bulwark against a single director dismantling the consumer-friendly agency.

Cordray tests Ohio's election waters amid concerns about consumer agency's future

CINCINNATI/WASHINGTON Sept 4 (Reuters) - The head of the U.S. consumer watchdog will discuss his agency’s work at one of the country’s largest Labor Day gatherings on Monday and simultaneously stoke major doubts about its future.

Republicans Want to Sideline This Regulator. But It May Be Too Popular.

WASHINGTON — With the election of President Trump, the nation’s consumer watchdog agency faced a quandary: how to shield the Obama-era institution from a Republican administration determined to loosen the federal government’s grip on business.

Calls intensify for Cordray to reveal political aspirations

The chairman of the House Financial Services Committee wants a definitive answer to a question that both he and Consumer Bankers Association president and chief executive officer Richard Hunt have been asking for some time: Is Consumer Financial Protection Bureau director Richard Cordray departing the regulator to run for governor in Ohio?

Will Cordray run for Ohio governor? It’s complicated

WASHINGTON — If Consumer Financial Protection Bureau Director Richard Cordray opts to run for governor of Ohio, as is widely expected, his time at the agency may end up complicating rather than helping his campaign.

Republicans are already accusing Cordray of misusing his job as a fundraising platform and claiming that he is rushing rules out the door before he leaves. Many CFPB allies, meanwhile, want Cordray to forgo a political run and remain in office until his term expires in July 2018.

CORDRAY WATCH

CORDRAY WATCH — Via POLITICO’s Lorraine Woellert for MM: With CFPB Director Richard Cordray poised to quit any day now to run for Ohio governor — or not — Washington is uneasy about what’s next for the bureau. Under the rules, Cordray’s deputy steps up to the top slot if he leaves. But the agency has been without a permanent deputy since July 2015 because Cordray hasn’t named anyone to the post.

Auto Finance Veteran Retires

Auto finance veteran Nick Stanutz announced his plan to retire from Huntington Bancshares Inc., effective Dec. 31, following 31 years of service in various roles of increasing leadership.
Stanutz came to Huntington in May 1986 to help build Huntington's new auto lending portfolio.
In 1993, he moved to Columbus to lead all of consumer banking for Huntington. In 1998, Stanutz became part of Huntington's leadership team at which time auto became a separate line of business for the bank.

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